SANCHEZ ROBERT E 4

What Happened

• Robert E. Sanchez, Chair and CEO of Ryder System, exercised 104,390 stock options on February 24, 2026 (code M), acquiring those shares at $76.49 each for a total exercise cost of $7,984,791. The same day the 104,390 shares were transferred/disposed to cover tax withholding and via open-market sales (codes F and S), generating total proceeds of approximately $23,410,502. After paying the exercise cost, the transaction produced net cash proceeds of about $15,425,711.

Key Details

• Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (filed within the standard two-business-day window).
• Option exercise: 104,390 shares acquired at $76.49 per share (total cost $7,984,791).
• Withholding to cover taxes (F): 62,611 shares disposed at a weighted average of $224.90 (value $14,081,214).
• Open-market sales (S): 40,841 shares @ $223.28 (weighted average; value $9,118,978); 676 shares @ $223.86 (value $151,329); 262 shares @ $225.12 (value $58,981). Total open-market sale proceeds ≈ $9,329,288.
• Total shares disposed the same day: 104,390 (equal to the shares exercised); total proceeds ≈ $23.41M.
• Footnotes: F1–F3 note the sale price ranges for the weighted averages (F1: $222.78–$223.76; F2: $223.81–$224.07; F3: $225.10–$225.13). F4 notes the options vested in 2018–2020 (i.e., these were vested options).
• Shares owned after the transaction: not specified in the provided filing.

Context

• This was a cashless-style outcome common with option exercises: options were exercised and the resulting shares were used partly to satisfy tax withholding and partly sold in the open market. Transaction codes: M = option exercise/conversion, F = shares withheld for tax liability, S = open-market sale.
• These transactions are routine for executives exercising vested options and do not, by themselves, indicate a change in company outlook. Purchases are typically more informative about bullish insider sentiment; this filing reflects an exercise followed by sales to cover taxes and realize proceeds.